Grupo Cibest S.A. - Sponsored ADR $CIB Stake Reduced by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital slashed its Grupo Cibest stake by 93.8% in the first quarter, selling 1.03 million shares and retaining 67,808 shares valued at approximately $4.94 million.
• Grupo Cibest shares opened at $91.25, near their 52-week high, despite the bank missing quarterly earnings and revenue estimates. Analysts maintain a consensus “Hold” rating with a $76.60 target price.
• The company increased its quarterly dividend to $1.304 per share, equating to an annualized dividend of $5.22 and a 5.7% yield, although its payout ratio stands at 147.5%.

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 93.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,808 shares of the bank's stock after selling 1,031,213 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Grupo Cibest were worth $4,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Grupo Cibest by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,089,670 shares of the bank's stock worth $196,534,000 after purchasing an additional 67,986 shares during the period. Fundamenta Capital S.A. acquired a new stake in Grupo Cibest during the 4th quarter worth about $1,908,000. ABN Amro Investment Solutions raised its holdings in Grupo Cibest by 110.7% during the 4th quarter. ABN Amro Investment Solutions now owns 182,945 shares of the bank's stock worth $11,637,000 after buying an additional 96,109 shares during the period. Triasima Portfolio Management inc. lifted its stake in Grupo Cibest by 32.5% during the fourth quarter. Triasima Portfolio Management inc. now owns 139,897 shares of the bank's stock valued at $8,899,000 after buying an additional 34,280 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Grupo Cibest by 46,580.9% during the first quarter. Assetmark Inc. now owns 95,229 shares of the bank's stock valued at $6,934,000 after buying an additional 95,025 shares in the last quarter.

Grupo Cibest Trading Down 1.4%

Shares of NYSE CIB opened at $91.25 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. Grupo Cibest S.A. - Sponsored ADR has a one year low of $44.33 and a one year high of $94.21. The business has a 50-day moving average price of $80.01 and a two-hundred day moving average price of $75.16. The firm has a market capitalization of $21.65 billion, a PE ratio of 25.35, a PEG ratio of 1.06 and a beta of 0.67.

Grupo Cibest (NYSE:CIB - Get Free Report) last issued its earnings results on Monday, May 4th. The bank reported $1.62 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.22). The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $2.04 billion. Grupo Cibest had a net margin of 8.41% and a return on equity of 21.07%. As a group, analysts predict that Grupo Cibest S.A. - Sponsored ADR will post 8.87 earnings per share for the current fiscal year.

Grupo Cibest Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were given a dividend of $1.304 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is a boost from Grupo Cibest's previous quarterly dividend of $1.22. This represents a $5.22 dividend on an annualized basis and a yield of 5.7%. Grupo Cibest's payout ratio is presently 147.50%.

Analyst Ratings Changes

Several brokerages have commented on CIB. UBS Group raised their target price on shares of Grupo Cibest from $52.00 to $72.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Grupo Cibest in a research report on Tuesday, July 21st. Bank of America raised shares of Grupo Cibest from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $68.00 to $75.00 in a research note on Monday, June 1st. JPMorgan Chase & Co. lifted their price objective on shares of Grupo Cibest from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Finally, Itau BBA Securities upgraded shares of Grupo Cibest from a "strong sell" rating to a "market perform" rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $76.60.

About Grupo Cibest

Bancolombia SA NYSE: CIB is a leading financial institution in Colombia, offering a comprehensive suite of banking and financial services. As one of the largest universal banks in the country, the company provides retail and commercial banking, corporate and investment banking, treasury services, and wealth management solutions. Through its extensive branch network and digital platforms, Bancolombia serves individual clients, small and medium enterprises, and large corporations, focusing on convenience, innovation and customer experience.

In addition to traditional banking, Bancolombia's product portfolio includes insurance, pension fund management, leasing, factoring, brokerage and asset management.

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